Altmann: Why must NEST be a pension?

Pensions minister Steve Webb today announced auto-enrolment into workplace pension schemes will apply for employees earning £7,475 per year and over. All businesses, regardless of size will have to provide employees with a pension scheme, the default choice for which is NEST. Altmann, however, says she would prefer to see more flexibility within NEST. "Why does this have to be a pension? Why not an ISA? Why not just get people saving?" she says. "NEST as a savings vehicle could be used by people in their 20s who are afraid to lock their money away for 30 years, or students could...